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First the Republican-led House approved a federal budget that’s heavy on spending cuts. Then the Democratic-controlled Senate approved one that leans more toward tax increases. Then at last, President Barack Obama put out his own budget plan, two months late, coming down someplace in between.

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The next battle over the federal debt limit appears to be further away than many expect — and perhaps not until well into autumn.

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On February 4, President Obama signed into law H.R. 325, which suspended the debt limit until May 19. At the time, we offered a detailed interpretation of this novel approach to the debt limit, along with a projection of the new X Date (the date on which Treasury would be unable to make all payments in full and on time).

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The economy regained speed in the first quarter, but not as much as expected, heightening fears it could struggle to cope with deep government spending cuts and higher taxes.

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At the dedication of the George W. Bush Presidential Center in Dallas on Thursday, all five living presidents were in attendance and were introduced on stage together. Here’s a photo of this special moment:

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Senator Charles E. Schumer said he was blindsided. On March 31, after months of tense negotiations, a bipartisan group of eight senators hoping to overhaul the nation’s strained immigration system felt as if they were finally closing in on a deal. Mr. Schumer, a New York Democrat and member of the group, was preparing to go on the NBC program “Meet the Press” to hail the progress.

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Job openings climbed in February to the highest level in almost five years, signaling U.S. employers were preparing to expand before federal government budget cuts took effect last month.

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The meeting was supposed to be a half-hour update for immigration reform proponents — but they weren’t about to let the Democratic senators get off that easily.

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Erskine Bowles and Alan Simpson, the deficit-reduction duo, are trying to rekindle congressional interest in a $2.5 trillion package of spending cuts and tax increases with new details showing how it could work.

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After the House of Representatives passed a budget and a stop-gap measure to fund the government through the end of the fiscal year today, Congress is now poised to turn its attention to a fresh battle over a looming debt limit increase.

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The White House is expected to release its 2014 budget proposal on Wednesday, laying out the president’s vision for how Congress should structure taxes and spending.

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President Barack Obama fired up wonks across Washington Friday with a single phrase: chained CPI.

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